SEC Announces Agenda for Roundtable on Decimalization

The Securities and Exchange Commission today announced the agenda for its upcoming staff roundtable that will evaluate the impact of tick sizes on the securities markets.

The roundtable, announced earlier this month, will take place on February 5 in Washington D.C. Panelists will be finalized and announced at a later date.

The roundtable will be divided into three panels.

Participants on the first panel will address the impact of tick sizes on small and mid-sized companies, the economic consequences (including costs and benefits) of increasing or decreasing minimum tick sizes, and whether other policy alternatives might better address concerns related to Section 106(b) of the JOBS Act.

Participants on the second panel will address the impact of tick sizes on the securities market in general, including what benefits may have been achieved and what, if any, negative effects have resulted.

Participants on the third panel will address potential methods for analysis of the issues, including whether and how to conduct a pilot for alternative minimum tick sizes. SEC staff is particularly interested in hearing what types of data that market participants should provide for use in assessing the effects of an increase or variation in minimum tick sizes for companies of different capitalizations.

The SEC staff welcomes feedback regarding any of the topics to be addressed at the roundtable. Information that is submitted will become part of the public record of the roundtable.

Information may be submitted to the Commission using the following methods:

All submissions should refer to File Number 4-657. This file number should be included on the subject line if e-mail is used. To help process and review submissions more efficiently, please use only one method. The SEC will post all submissions at www.sec.gov.

Please note that all submissions received will be posted without change. The SEC does not edit personal identifying information from submissions. Only information desired to be shared publicly should be submitted.